The theoretical background of the Navy's inventory models is presented and the problems inherent in the models are discussed. The four principal Navy inventory models are described and evaluated, i.e., the Uniform Inventory Control Program (UICP) model, Variable Operating and Safety Level (VOSL) - the stock point model, the Shipboard Uniform Automated Data Processing System (SUADPS), and the non-automated afloat model. A new approach to Navy inventory management is presented. This new approach requires the models to be based on theory that assumes only information that can be accurately predicted and to operate using all such information that results in better inventory policies. It also requires the inventory manager to define his objective in reorder point determinations. A detailed proposed new model for non-automated ships, based on the new approach, is presented. The proposed model minimizes customer requisitions short subject to a constraint on average inventory investment and was found to be clearly superior to the present model based on computer simulation results. (Author)

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